PPI Reclaiming discussion

w216uhk

Hi,

So sent a letter off to the Halifax on the 1/10/07 and recviced a letter on the 3/10/07 stating I would recevice a reply shortly but no latter than 4 weeks, while they were looking into it. 4 weeks latter they said they were still looking into it and would get a reply back by the 27/11/07. ps this is my full 8 week period up as stated to them in the orginal letter before I go to the next stage.

So question is what now do I phone them and say what is going on as you have not replied on the date stated by them and refer to the FSO or give it one or two more days.

Thanks in advance.

gio67

Hi Tiggrae,
Thx to reply to me, basically they say that i applied for the loan protection and that Barclay advisor are trained to offer insurance. But when i request no to have the PPI they told me that i couldn't have the loan so i was forced to take it because i need it the loan. I've been asking to the bank many times to cancel the PPI but they always anser me that after 3 months was not possiblo anymore. Now if i want to cancel i have to re-open another loan wiht higher interest and for more money because otherwise can't be applied the interest, at the present moment i am paying 14.9% that is very high and they can offer me another loan for 17.9 with a thousand pound more. My original loan was 7000 now is down to 4970 after almost 3 years but they can give another loan only at 6000 !!!
Its crazy!!!!!!!!!!!! i don't know what to do, shall i cancel? shall i send another complaint to the financial Ombudsdam and what chance i've got???????
any idea?
many many thanks

LISA68_2

LISA68 wrote: »

Took out a secured loan in 2003 Broker was Cavendish Finance lender was Future Mortgages clear p.p.i of £650 added to total of loan.

Have sent ltr to Future Mortgages who claimed first of all they had no p.p.i registed and in fact i took out a PRIVATE protectection insurance with a separate company (i have a copy of my original agreement, so i contacted them and they apologised they made a mistake) they then advised me as I took out the loan through a broker I had to contact Cavendish, I have done that and they state they only act as an introducer to a product and no claim with them.

Please help as stuck as who do I really need to contact regarding mis-selling of p.p.i it is a separate item under my agreement as a total amount but on Future Mortgages headed paper contract.

Also had loan in 2004 with Welcome Finance and noticed on agreement had Homecare and Medicare, does anyone know what this is

Thanks

Still stuck as to what to do thanks

tiggrae

gio67 wrote: »

Hi Tiggrae,
Thx to reply to me, basically they say that i applied for the loan protection and that Barclay advisor are trained to offer insurance. But when i request no to have the PPI they told me that i couldn't have the loan so i was forced to take it because i need it the loan. I've been asking to the bank many times to cancel the PPI but they always anser me that after 3 months was not possiblo anymore. Now if i want to cancel i have to re-open another loan wiht higher interest and for more money because otherwise can't be applied the interest, at the present moment i am paying 14.9% that is very high and they can offer me another loan for 17.9 with a thousand pound more. My original loan was 7000 now is down to 4970 after almost 3 years but they can give another loan only at 6000 !!!
Its crazy!!!!!!!!!!!! i don't know what to do, shall i cancel? shall i send another complaint to the financial Ombudsdam and what chance i've got???????
any idea?
many many thanks

Ok there's two things going on here, firstly you need to be quite definate about cancelling the PPI - which you are legally entitled to do - don't let anyone within Barclays say otherwise, as for the loan you are claiming the policy was mis sold to you - therefore, under the Financial Service Authority ruling to cancel the PPI Barclays are at liberty to request you take out another separate loan - however, the important aspect is that in doing so you cannot be financially disadvantaged !! In otherwords the new loan should be at an equal if not better rate.

Secondly your mis sold PPI - you need to write back and state that as you believe the policy was sold to you through Negligent Misrepresentation and as such under S2(1) of the Misrepresentation Act 1967 the onus is upon Barclays to prove otherwise - not on you to prove it was - this is the relevant section of the act:

• Therefore, under 2(1) of the Misrepresentation Act 1967 provides "Where a person has entered into a contract after a misrepresentation has been made to him by another party thereto and as a result thereof he has suffered loss, then, if the person making the misrepresentation would be liable to damages in respect thereof had the misrepresentation been made fraudulently, that person shall be so liable notwithstanding that the misrepresentation was not made fraudulently unless he proves that he had reasonable ground to believe and did believe up to the time the contract was made that the facts represented were true."

If the PPI was sold to you prior to 2004 state you'll start proceedings under the above legislation within the county Courts if after then you'll take your complaint to the Financial Ombudsman.

Hope that helps

vodkafreak

Firstplus are true to their word! The first letter i received from them stated that they would let me have a response or update by 27 Nov & lo & behold i received a letter today;
Dear ..........,
In my previous letter i promised to keep you updated on the progress of my investigation. I remain committed to resolving your complaint as quickly as i can and will contact you again by 27 December. If you would like to speak in the meantime, please call me on ..... ......

I think i will just send a copy of the 2nd template letter threatening them with the Financial Ombudsman!!!

Ellogg

Sorry if this is in the wrong section but I have had a question about the above in another section of the forum and had no replys.

Basically can you use the same PPI reclaiming method on overdrafts if you feel they were mis-sold to you. i.e could not get overdraft if dont take PPI etc.

link to first post. http://forums.moneysavingexpert.com/showthread.html?t=604033

Thanks

Ellogg

michellew_2

Ring them, I was on first name terms with the "complaints exec" lol got an offer but have refused it and waiting for their response - how long since you first wrote to them? I would wait the 8 weeks from first letter, before sending the second, but give them a ring first

vodkafreak wrote: »

Firstplus are true to their word! The first letter i received from them stated that they would let me have a response or update by 27 Nov & lo & behold i received a letter today;
Dear ..........,
In my previous letter i promised to keep you updated on the progress of my investigation. I remain committed to resolving your complaint as quickly as i can and will contact you again by 27 December. If you would like to speak in the meantime, please call me on ..... ......

I think i will just send a copy of the 2nd template letter threatening them with the Financial Ombudsman!!!

jumbles_2

two questions
1. we paid off our mortgage with Barclays approx 4 yrs ago and had to have ppi there was no choice ( 1984) can we still claim it back,?

2. had a small business and the banks always insisted on PPI or Keyman insurance, can we claim that back too- over past few years managed to change to life insurance.can we claim that back too?

midge61

Hi all

I have an unsecured loan with NR and PPI was added. I wrote asking for refund as mis sold due to me haviing a pre existing medical condition.
Lots of letters to and fro but have eventually won. They have refunded £238 plus interest at 8%. A new loan has been set up over shorter term and lower premiums.

Cap 1 credit card: had PPI for the first year then I cancelled it. I have wrtten asking for refund of £103 plus interest at contractual rate. First reply 2 days ago refusing sayng it was applied for over the phone and it was explained and I agreed and that policy document was sent. Written back saying that my SAR did not include any info on this and I never recieved the document and can I please have a transcript of the call as I applied for the card by post!
Now waiting for reply.

newsaver_3

my self-employed hubby has a business account at RBS . He's always had to use the overdraft facility to get by. Aaprt from the usual costs he is also charged 4 quid a month for 'Overdraft Protection'. Is this another form of PPI? If so can it be claimed back in a simiar manner? he has around 8 year's worth.....